Looking for advice on this situation. Delaware LLC for California Business - Is It Actually Worth the Extra Cost? Any guidance would be greatly appreciated.
Details: I'm in a situation where I need to understand my legal options. Has anyone dealt with something similar?
Ngl the most important thing for LLC protection isn't the state you form in — it's whether you maintain the corporate formalities. Separate bank accounts, proper record-keeping, adequate capitalization. Without these, the LLC is just a piece of paper.
Ngl the "best state" for incorporation depends entirely on your specific situation. Delaware makes sense for VC-backed startups. Wyoming for privacy. Your home state for most small businesses. Don't pay extra for a fancy jurisdiction if you don't need the specific benefits no cap.
Update: Thanks everyone for the guidance. I consulted with an attorney and we're moving forward. The advice here helped me understand what questions to ask and what to expect. Will update when there's a resolution.
For anyone doing a Series LLC: be aware that not all states recognize them. If you're operating in a state that doesn't recognize the series structure, you might not get the liability protection you think you have.